Monday, December 12, 2011

Borrowing Needs are $10Trillion+ for the OECD and Growing (FT & GoogleNews)

December 11, 2011 10:01 pm
OECD warns on global funding struggle

By David Oakley in London

Markets and governments face an uphill struggle to fund themselves next year amid extreme uncertainty overthe eurozone and the global economy, as new figures reveal that the borrowing of industrialised governments has surged beyond $10tr this year and is forecast to grow further in 2012.

The Organisation for Economic Co-operation and Development, which represents the leading industrialised nations, will warn in its latest borrowing outlook, due to be published this month, that financial stresses are likely to continue with the “animal spirits” of the markets – their unpredictable nature – a threat to the stability of many governments that need to refinance debt.


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